Gold and Silver miners (Jr and Exploration)

[Edge83]

Eastmain Resources Ltd. (ER-T, OTCQX:EANRF)
Azimut Exploration Inc. (AZM-V)
 
On fore avec du solide sur Éléonore Sud

Event: Eastmain and Azimut announced the start of a 5,100m phase 2 diamond drilling program on the Eleonore South JV project (Azimut 26.6%, Eastmain 36.7%, Goldcorp 36.7%) in James Bay, Québec.

Impact: Positive. Work is being paced on a military type scenario to investigate a major intrusion-hosted gold-bearing corridor of ~4km long by ~600m wide that since September 2016 has seen 9,686m of drilling. The identification of the Moni and Contact Trends within the corridor is the locus for additional well-planned drilling.

Analysis

On February 27, 2018, Eastmain and Azimut announced they started the phase 2 diamond drilling program on the Eleonore South JV property (~5,100m in 29 holes). Éléonore South is composed of 282 claims covering over 14,760ha strategically positioned near the Eleonore gold mine and the Sirios Resources Inc. (SOI-V) Cheechoo project.                              Set to execute on a well-thought game plan: Phase 2 drilling objectives, building on the success of drilling and trenching programs conducted in 2017, should better investigate and delineate the Moni and Contact trends.                                                                                                                                                                                                        Moni Trend (~1.8km) should see 2,200m in 18 holes to investigate several highly prospective targets along a 1km strike including the Moni prospect and the 101 prospect. Initial drilling is on a close-spaced pattern on the Moni prospect to better assess continuity of high-grade gold zones and the structural elements. Best results of the Moni Trend include 5.87m @ 79.5 g/t Au (channel sample) and 2.5m @ 8.88 g/t Au (DDH ES-16-48).                                                                     Contact Trend (~4km) should see 2,900m in 11 holes to: i) test the grade and geometric continuity in 3 sectors that returned gold results (Cluster 77, 64 and 70) and ii) infill drill the untested areas over a 1km strike length near the southern contact of the tonalite intrusion with metasediments that could evolve in a large low grade target. Best results include 45m @ 4.9 g/t Au (hole ES17-64); 45.5m @ 1.46 g/t Au (hole ES17-77) and 9m @ 6.13 g/t Au (hole ES17-80).                                                                                                                      Results continue to suggest that the Éléonore South JV project may be located within a highly prospective part of the Éléonore mining camp. Improvement of the exploration model and the contribution of three exploration, development and mining teams leads us to believe that Éléonore South is advancing on solid ground and that the tonalite intrusion and contact may host a minimum 1 to 2.5M oz Au deposit. Eastmain is a Canadian exploration company with 100% interest in a portfolio of ~9 properties in the James Bay area of Québec. The flagship Eau Claire and Eastmain Mine projects, both of which are located proximal to infrastructure and within a favorable jurisdiction, may be set to advance. A first PEA on the Eau Claire gold deposit should be disclosed by Eastmain by May 2018. Recall that on January 9, 2018, Eastmain disclosed a first NI 43-101 Mineral Resource estimate for the 100%-owned Eastmain Mine project with total resources standing at 375,000 oz. Au and targets are set to be explored in summer 2018. Courtesy Eric Lemieux, M.Sc. P. Geo, Mining Analyst
Mining & Exploration Analytics.

Please click the link below for the full report.

http://www.eastmain.com/_resources/news/Images/A Few Thoughts_ER AZM _2 mars 2018.pdf